The pace of new-home sales hit an annual rate of 800,000, its highest level since January 2022. 

At the same time, completions of new single-family homes were on the rise last month, according to federal statistics. 

The project will offer a total of 294 rental residences — 245 apartments and 49 rental townhomes — and 13,000 square feet of commercial space. 

The View will bring 573 apartments to the 310-acre super-regional, mixed-use project, the Rock Run Collection. 

The upside surprise came despite monthly and yearly declines in the pace of sales. 

The single-family sector managed to eke out a slight monthly gain, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

The NAHB/Wells Fargo Housing Market Index slid a point to 32, reflecting ongoing negative sentiment in the homebuilding industry. 

SVN Chicago Commercial has closed the sale of an approximately 80,000-square-foot parcel of riverfront land at 2221 W. Oakdale Ave., located in Chicago’s Roscoe Village neighborhood.

The inventory of new homes for sale surged year over year, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.    

The Irving Park development will bring 45 affordable residences to market. 

New single-family home construction declined as builders continue to grapple with macroeconomic headwinds. 

Banner Real Estate Group broke ground on The Faywell, a 334-unit multifamily community in downtown Wheaton, after nearly five years of development.

Kayne Anderson Real Estate and JDL Development have acquired the development site at 2001 North Southport Ave. — also known as Lincoln Yards North — to be rebranded as the Foundry Park residential community.  

The residences are located on the 800 block of North Homan Avenue in Chicago’s Humboldt Park neighborhood.

The organization issued a statement in support of the pro-development campaign at its annual meeting in Tampa. 

Homebuilder sentiment recently reached its third-lowest level since 2012.